The global UV stabilizers market is expected to register a significant growth during the forecast period, 2018-2023, according to a report from Research and Markets. Asia-Pacific reportedly dominated the global UV stabilizers market in 2017.
The global polymer industry is majorly driven by the automotive industry and other application industries, such as electrical and electronics, construction, medical, consumer, and industrial. The usage of these polymers in such wide diversified sectors is reportedly instrumental in providing the immense demand for the UV stabilizers market.
Hindered amine light stabilizers (HALS), used for the light stabilization of polyolefin, styrenic polymers, polyamides, polyurethanes, polyacetals, adhesives, and sealants segment, reportedly represents the largest product type, with more than 70% share of the global UV stabilizers market. Since the packaging is the largest application segment for HALS, the increasing demand for packaging of both food-based and non-food-based products in the Asia-Pacific, North American, and European regions is propelling the market growth.
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